Bitcoin vs. gold tilts in the metal's favor

Gold is currently rallying strongly, driven by expectations of interest rate cuts and geopolitical risks, leading to its best annual gains since 1979, alongside silver and platinum. Conversely, Bitcoin is struggling to maintain key psychological levels and remains sensitive to the same risk-off forces that affect equities. This divergence is reopening the debate over whether Bitcoin truly functions as 'digital gold.' David Miller of Catalyst Funds noted that while both assets had strong years, gold serves as an established alternative reserve asset for central banks, a role Bitcoin cannot currently fill, positioning gold as institutional and Bitcoin more as a retail play. Gold accumulation is evident through rising holdings in gold-backed ETFs, with major banks like Goldman Sachs maintaining bullish price forecasts for gold into 2026.

(Source：CoinDesk)